Wallbridge Mining Co. Ltd. · TSX:WM
Wallbridge Mining — Investor Presentation (April 2026)
42 slides from Wallbridge Mining's investor presentation, April 2026
Slide 1: Growing Gold Resources in Quebec's Abitibi
GROWING GOLD RESOURCES IN QUEBEC’S ABITIBI Corporate Presentation – April 2026 TSX: WM | OTCQB: WLBMF TSX: WM OTCQB: WLBMF wallbridgemining.com
Slide 2: Cautionary Note Regarding Forward-Looking Information
Cautionary Note Regarding Forward-Looking Information This presentation contains forward-looking statements or information (collectively, “FLI”) within the meaning of applicable Canadian securities legislation. FLI is based on expectations, estimates, projections, and interpretations as at the date
Slide 3: QP Statement and Non-IFRS Financial Measures
QP - Statement All scientific and technical data related to the 2025 PEA contained in this document has been reviewed and approved by Mr. Marc R. Beauvais, P.Eng, of InnovExplo, who was responsible for compiling the PEA technical report. By virtue of his education, membership in a recognized profess
Slide 4: Abitibi Greenstone Province
ABITIBI GREENSTONE PROVINCE Northern vs. Southern Abitibi: Proven Gold Endowment | Divergent Exploration Maturity Northern Abitibi ▪ Geologically continuous with Southern Abitibi ▪ Home to Detour Lake ▪ Significantly lower historical exploration and drill density ▪ Underexplored due to: ▪ Remote acc
Slide 5: District Scale Detour-Fenelon Gold Trend
DISTRICT SCALE DETOUR-FENELON GOLD TREND Proven gold endowment, underexplored tenure, compelling growth opportunity MULTI-MILLION OUNCE RESOURCE BASE DEVELOPING FLAGSHIP ASSET PLATFORM FOR GROWTH TOP JURISDICTION PRODUCING GOLD TREND TSX: WM | OTCQB: WLBMF TSX: WM | OTCQB: WLBMF 1. Please see Minera
Slide 6: Supportive Shareholders
SUPPORTIVE SHAREHOLDERS SHARE STRUCTURE (Mar 27, 2026) SHAREHOLDER DISTRIBUTION 52-Week Trading Range $0.045—$0.14 0.8% 9.4% Agnico Eagle 13.5% Shares Outstanding – Basic 1,222.6M Eric Sprott William Day 71.5% Construction 4.8% Shares Outstanding - Fully-diluted** 1,405.9M Retail & Other Management
Slide 7: Our Team
OUR TEAM Board BRIAN PENNY JANET WILKINSON BRIAN CHRISTIE DANIELLE GIOVENAZZO MICHAEL PESNER JEFFERY SNOW CEO Director, Chairperson Director Director Director Director Management BRIAN PENNY MARY MONTGOMERY MARK PETERSEN TANIA BARRETO CAROL EVANS-DUFFIELD SEAN STOKES CEO CFO Senior Geological Consul
Slide 8: Major Milestones
MAJOR MILESTONES From Discovery to PEA N2022 – Nickel Divestment 2025 - PEA (Fenelon) ▪ Returned capital to ▪ 3,000 tpd Q1 2019 – Major Discovery shareholders ▪ After Tax NPV of $706 ▪ Current ownership million (5%) Area 51 in Archer (now ▪ 107,000 Au oz annually &Tabasco/Cayenne NorthX Nickel)
Slide 9: Environmental, Social, and Governance (ESG)
ENVIRONMENTAL, SOCIAL, AND GOVERNANCE (ESG) Continual Improvement Social Economic Health, Safety, Cultural Heritage Environment Governance Responsibility Contributions & Wellbeing & Diversity ▪ Community consultation & ▪ Achieved ECOLOGO® ▪ Local sourcing from ▪ Prioritizing EHS ▪ Developed cultural
Slide 10: Martiniere Gold Project
MARTINIERE GOLD PROJECT Near-Term Value Opportunity Two-phase 17,000 m Drilling Campaign Underway TSX: WM | OTCQB: WLBMF TSX: WM OTCQB: WLBMF 11
Slide 11: Martiniere Gold Project
MARTINIERE GOLD PROJECT OBJECTIVE: Advance Martiniere as a key growth asset by defining system scale and testing its potential to host a 2+ million ounce gold resource 2025 OUTCOMES 17,411 metres | 34 holes + 5 extensions ▪ Redefined Martiniere as a significantly larger gold system than previously r
Slide 12: Martiniere Gold Project
Martiniere Gold Project Plan View - Geology & Pre-2025 Au Assays 2025 Martiniere Mineral Resource Estimate Footprints pes S775 _ open Pit Resource "Sy Underground Resource Pre- 2025 MRT Assays @ = ->10.0 g/t Aw 5.0-10.0g/tAu @ — 15-5.0¢/tAu © 05-15 e/tau © 025-0.5¢/tAu Deformation Zones [227] tacdu-
Slide 13: Martiniere Gold Project
Martiniere Gold Project Plan View - Geology & 2025 Au Highlights 2025 Martiniere Mineral Resource Estimate Footprints Open Pit Resource Underground Resource 2025 News Release Highlights Martiniere Assays Pre-2025 2025 @ 2100¢/tau 0- 10.0 g/t A 5-5.0R/tAu 5-1.58/tAu 025-05 ¢/tAu Drill Hole Traces 7,
Slide 14: MR-25 MR-25 MR-25
TSX: WM | OTCQB: WLBMF MR-25 124 &140 MR-25 121 & 129B MR-25 116 & 136 14
Slide 15: Bug Lake Corridor Long Section Post 2025 Drilling
Bug Lake Corridor Long Section Post 2025 Drilling TSX: WM | OTCQB: WLBMF 15
Slide 16: North – South Cross Section Post 2025 Drilling
North – South Cross Section MR-25 – 124 & 140 Post 2025 Drilling TSX: WM | OTCQB: WLBMF 16
Slide 17: North – South Cross Section Post 2025 Drilling
North – South Cross Section MR-25 – 121 & 129B / 095 ext’n & 125 Post 2025 Drilling TSX: WM | OTCQB: WLBMF 17
Slide 18: North – South Cross Section Post 2025 Drilling
North – South Cross Section MR-25 – 110, 116 & 136 / 115 Post 2025 Drilling TSX: WM | OTCQB: WLBMF 18
Slide 19: Martiniere Gold Project 2026 Program
MARTINIERE GOLD PROJECT OBJECTIVE: Advance Martiniere as a key growth asset by defining system scale and testing its potential to host a 2+ million ounce gold resource 2026 PROGRAM 17,000 metre drilling campaign | 2 phases Phase 1 | ~7,500 – 8,500m : Focused on defining scale and geologic continuity
Slide 20: Fenelon Gold Project Preliminary Economic Assessment Results
FENELON GOLD PROJECT Preliminary Economic Assessment Results March 27, 2025 TSX: WM | OTCQB: WLBMF TSX: WM OTCQB: WLBMF 20
Slide 21: PEA Highlights – 16 Year Life of Mine
PEA HIGHLIGHTS – 16 YEAR LIFE OF MINE All results reported in Canadian dollars unless otherwise indicated, assumed gold price of US$2,200/oz gold price. ANNUAL ANNUAL FREE PRODUCTION CASH FLOW INITIAL CAPITAL SUSTAINING CAPITAL3 107,000 $120 $579 $449 Ounces Million Million Million AFTER-TAX AFTER-
Slide 22: PEA Sensitivity Analysis
PEA SENSITIVITY ANALYSIS Double digit IRR across gold price scenarios Gold Price FX NPV ($M) IRR Payback (Years) Post-Tax NPV 5% Sensitivity 1800 (-18%) 1.35 353 13% 5.7 $1,400 1900 (-14%) 1.35 443 15% 5.0 $1,200 2000 (-9%) 1.35 532 17% 4.6 $1,000 2100 (-5%) 1.35 619 19% 4.3 $800 2200 1.35 706 21% 4
Slide 23: Fenelon PEA Approach
FENELON PEA APPROACH First principles approach, realistic costs First Principles: new project starting with a clean slate Stope Optimization: Iterative process to develop a large UG operation according to MRE, rock mechanics and projected stope productivity Trade-Off Studies: material handling, tai
Slide 24: Fenelon PEA - Project Phases
FENELON PEA - PROJECT PHASES 2 years pre-production, 16 years production PHASE YEARS ACTIVITIES Infrastructure construction: ▪ Power line, camp expansion ▪ Mine site, mill plant, paste plant, tailing management site Pre-Production Pre-Production Year 1-2 ▪ Water treatment UG Development: ▪ Dewaterin
Slide 25: Fenelon PEA: Metallurgy & Processing
FENELON PEA Metallurgy & processing, a simple flowsheet METALLURGY Metallurgical Testing: ▪ Testing representative Tabasco- Cayenne & Area 51 material Gravity Gold Recoveries: ▪ up to 66.5% for Tabasco/Cayenne ▪ up to 84.1% for Area 51 Cyanidation and flotation testing Overall Gold Recovery: 96% PRO
Slide 26: Fenelon PEA: Annual Production
FENELON PEA Average production of 107,000 oz annually (127,000 in first 5 years) Production Profile 150 4.50 Annual Ounces produced Grade 4.14 4.00 3.93 125 3.54 3.59 3.48 3.50 3.36 3.32 3.36 3.39 3.31 100 3.06 3.04 3.00 Annual production, Koz 2.98 2.91 2.67 2.59 2.50 Grade 75 141 139 134 2.00 121 1
Slide 27: Fenelon PEA: Free Cash Flow Over 16-Year Mine Life
FENELON PEA Strong free cash flow generation over 16-year mine life Average annual after-tax cash flow of $120 million Base case of US$2,200/oz gold price Annual After Tax Cashflow ($Million) 206 143 148 149 128 129 130 115 119 118 107 104 101 90 63 66 -2 -1 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 -1
Slide 28: Undervalued Relative to Peers
UNDERVALUED RELATIVE TO PEERS March 27, 2026 EV / Resource (US$ / oz AuEq.) 3.3 5.3 1.1 2.3 5.1 4.5 8.1 12.3 14.2 6.0 3.0 3.2 5.8 4.0 4.1 16.6 3.0 $102 $98 $95 Resource Size $83 (Moz AuEq.) $45 $40 $39 $37 $31 $29 $27 $23 $21 Median: $34 $15 $15 $8 $3 Maple Thesis Falco Sitka Abcourt Radisson Banyan
Slide 29: Coming Up in 2026
COMING UP IN 2026 Disciplined Advancement at Fenelon | Scale Expansion at Martiniere 25,000 metres planned | 40% over 2025 | 5 campaigns across 4 properties Fenelon: Advancing long-lead trade-off studies supporting a future PFS ▪ Targeted infill drilling across PEA mine production sequence ▪ 2,000 m
Slide 30: 2026 Catalysts
2026 CATALYSTS Disciplined Advancement at Fenelon | Scale Expansion at Martiniere Q1 Q2 Q3 Q4 ✓ Fenelon: Fenelon: Casault: Martiniere: Exploration & Metallurgical Option Earn-In Phase 2 Drilling Technical Studies Drilling Results Commitment Completed Results Program Commences Martiniere: Fenelon: Ma
Slide 31: A Platform for Growth in the Abitibi
Fenelon: Long-term Platform for Growth Positive PEA Published March 2025, 16 Year Mine Life WALLBRIDGE Martiniere: Near-term Growth Potential Systematically expanding mineralized gold footprint A Platform for Growth in the Abitibi Strong Technical Team Diverse team with broad range of industry knowl
Slide 32: Thank You
TSX: WM OTCQX: WLBMF THANK YOU Brian Penny, CEO @WallbridgeMining E: bpenny@wallbridgemining.com @WallbridgeWM Tania Barreto, Director, Investor Relations E: tbarreto@wallbridgemining.com wallbridgemining.com 32
Slide 33: Appendix
APPENDIX Solid team in place for future growth along the Detour-Fenelon Gold Trend TSX: WM | OTCQB: WLBMF TSX: WM OTCQB: WLBMF wallbridgemining.com
Slide 34: 2025 Mineral Resource Statement
2025 MINERAL RESOURCE STATEMENT Detour-Fenelon Gold Trend Property INDICATED INFERRED Tonnes Gold Grade Gold Ounces Tonnes Gold Grade Gold Ounces DEPOSIT (000’s) (Au g/t) (000’s) (000’s) (Au g/t) (000’s) FENELON OP @ > 0.45 g/t Au 3,121 2.50 251 2,313 2.53 188 UG @ > 1.45 g/t Au 11,966 3.91 1,503 12
Slide 35: Fenelon PEA Capital Allocation
FENELON PEA Capital allocation INITIAL CAPITAL EXPENDITURES SUSTAINING CAPITAL EXPENDITURES Cost Element Initial Capital ($M)1,2 Cost Element Sustaining Capital ($M)1,2 Mill 217 Mining Equipment 145 Paste Plant 43 Development 161 Tailings and Water Treatment 22 Tailings & Water Treatment 64 Capitali
Slide 36: PEA Project Parameters
PEA PROJECT PARAMETERS 2025 PEA compared to 2023 PEA SUMMARY OF PROJECT ECONOMICS 2023 2025 SUMMARY OF PROJECT ECONOMICS 2023 2025 Long term gold price (US$) 1750 2200 Total Capital Expenditures Exchange rate (CAD$:US$) 1.30 : 1.00 1.35 : 1.00 Initial capital 1 (CAD$M) 645 579 Mining Parameters Sust
Slide 37: Fenelon PEA Study Team
FENELON PEA-STUDY TEAM An assembly of expertise CONSULTING FIRMS AREA OF RESPONSIBILITY TEAM LEAD MB Consulting ▪ Mineral Resources Estimate ▪ Mauro Bassotti, P. Geo ▪ Mine design and scheduling, mine capital, and operating costs; G&A cost estimates and financial analysis InnovExplo Inc. / Norda Ste
Slide 38: Fenelon PEA Surface Infrastructure - Powerline
FENELON PEA Surface infrastructure - Powerline Operations Mine Camp Site Site Camp Site Access Road TSX: WM | OTCQB: WLBMF 38
Slide 39: 2025 Mineral Resource Statement
2025 MINERAL RESOURCE STATEMENT Detour-Fenelon Gold Trend Property INDICATED INFERRED DEPOSIT Tonnes Gold Grade Gold Ounces Tonnes Gold Grade Gold Ounces (000’s) (Au g/t) (000’s) (000’s) (Au g/t) (000’s) FENELON OP @ > 0.45 g/t Au 3,121 2.50 251 2,313 2.53 188 UG @ > 1.45 g/t Au 11,966 3.91 1,503 12
Slide 40: 2025 Mineral Resource Statement – Fenelon by Zone
2025 MINERAL RESOURCE STATEMENT Detour-Fenelon Gold Trend Property (Fenelon deposit by zone) INDICATED INFERRED DEPOSIT Tonnes Gold Grade Gold Ounces Tonnes Gold Grade Gold Ounces (000’s) (Au g/t) (000’s) (000’s) (Au g/t) (000’s) Open Pit @ > 0.45 g/t Au Area 51 & Contact Zone 2,946 2.40 227 2,313 2
Slide 41: 2025 Mineral Resource Statement – Martiniere by Zone
2025 MINERAL RESOURCE STATEMENT Detour-Fenelon Gold Trend Property (Martiniere deposit by zone) INDICATED INFERRED DEPOSIT Tonnes Gold Grade Gold Ounces Tonnes Gold Grade Gold Ounces (000’s) (Au g/t) (000’s) (000’s) (Au g/t) (000’s) Open Pit @ > 0.49 g/t Au Bug Lake Zones 3,482 1.79 201 1,006 1.78 5
Slide 42: 2025 Mineral Resource Notes
2025 MINERAL RESOURCE NOTES Notes to accompany the Detour-Fenelon Gold Trend Property 2025 Mineral Resource Statement and Mineral Resource Estimates for the Fenelon and Martiniere deposits: 1. The effective date of the 2025 MREs is March 20, 2025. 2. The 2025 MREs follow CIM Definition Standards (20
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